Reclaim payday loans for free discussion area

Mattyyy

I’ve had notification back from Wonga advising I am due £1,100 back as compensation but I will receive considerably less, does anyone have any idea what they would consider considerably less to be?

Gaz83

Mattyyy wrote: »

I’ve had notification back from Wonga advising I am due £1,100 back as compensation but I will receive considerably less, does anyone have any idea what they would consider considerably less to be?

They went bust, so you'll just be joining a long list of people due to get money back after their preferred creditors have received their share. You might end up getting nothing.

Bermonia

KramTH wrote: »

Hi all,
I am looking for some advice please.
I submitted a letter of complaint to Mr Lender and they have rejected by claim for the following reason:

'The FOS has time limit rules in place where they cannot consider a complaint if the event the consumer is complaining about was over six years ago or other three years from where the customer became aware that they had a reason for making a complaint'

I understand the first part of what they are saying. But the second part isn't. I only became aware in the last few weeks that I could actively complain after seeing information on here. But I don't know how to prove I became aware.

Has anyone else dealt with this lender. Any information would be appreciated

Mark

Take your complaint to FOS and let them decide if it is within their remit... you point your point across and they will make theirs

KS29

Hi all,

I received a response from poundstopocket after raising a complaint through resolver.

They have ask me to send them bank statements and pay slips from the times of my loans and some other information. The first loan I took out with them was in 2012 it's going to take some time to locate and provide all this information.

Is it right that they are asking for this information now? If I can't provide this information will it effect my complaint?

Anyone have similar issues?

Thank you x

Gains40

Hi can anyone please advise?

I had loans with both QuickQuid and Pounds2Pocket who are both part of the same company. The loans including interest and charges added up to around £20,000. I have received a combined offer from them of £5,300. I have gone back and asked them to provide me with a breakdown of which loans have been upheld for each company, rather than combined. They have also provided reasons why some of the loans were upheld but no reasons for the ones that have not, therefore I have asked them to provide me with that information so as I can make an informed decision as to whether to accept the offer or not.

Should I decide to send to the Financial Ombudsman and they decide to side with the lender, would I still get the original offer or do you lose it or maybe get less, based on the FOS decision? Any advice would be welcome!

Gains40

I raised a complaint with Pounds2Pocket on Resolver also and I told them I did not have my bank statements as it was so long ago and I have changed banks. I did have some emails from Pounds2Pocket which I attached to the complaint as proof but that was all I gave them.

Marc_Herts

Just want to let you know about an outcome I recently had (still awaiting payment) from a PayDay loan claim against Lending Stream.. it has taken almost a year and the help of the Financial Services Ombudsman too..

I made a claim directly last October, to Lending Stream.. the history was dating back to 2012 over 50 loans across a 5 year period, stuck in the trap of pay day loans.. Lending Stream denied any wrongdoing so I sent all the info, evidence etc to the FSO in December last year, they acknowledged receipt in January and assigned someone to my case in February. I got monthly updates (usually me asking for an update) and then in July this year I received an email saying they had found in my favour and what redress I should receive (what loan interest I should get, plus additional interest) they gave Lending Stream 21 days to respond. They did on the 21st day!! Accepting the decision from the FSO which was to repay the interest of loans 5 to 52 (48 loans in total, just over £14,900) which they have until 20th September to pay.

So if any of you are still fighting for redress/compensation from pay day loan companies.. keep fighting and use the FSO if you have to..

mummystudent

I have been made an offer from QuickQuid however I believe that there are 4 more loans which should be taken into account (all a third of my income). I want to query why they have not taken these into account. Do they ever negotiate? Is it worth taking it to the ombudsman?

Thanks

MS

KramTH

Marc_Herts wrote: »

Just want to let you know about an outcome I recently had (still awaiting payment) from a PayDay loan claim against Lending Stream.. it has taken almost a year and the help of the Financial Services Ombudsman too..

I made a claim directly last October, to Lending Stream.. the history was dating back to 2012 over 50 loans across a 5 year period, stuck in the trap of pay day loans.. Lending Stream denied any wrongdoing so I sent all the info, evidence etc to the FSO in December last year, they acknowledged receipt in January and assigned someone to my case in February. I got monthly updates (usually me asking for an update) and then in July this year I received an email saying they had found in my favour and what redress I should receive (what loan interest I should get, plus additional interest) they gave Lending Stream 21 days to respond. They did on the 21st day!! Accepting the decision from the FSO which was to repay the interest of loans 5 to 52 (48 loans in total, just over £14,900) which they have until 20th September to pay.

So if any of you are still fighting for redress/compensation from pay day loan companies.. keep fighting and use the FSO if you have to..

I have just had a response back from them and they have not upheld my complaint. They went through all my 26 loans and stated I could afford them and they carried out checks etc. They also said that I settled most of them. This was only possible because I was covering them off by borrowing money off friends and other pay day loan companies.

This has given me cause to go further with my complaint.

twhitehousescat

on the 20th of august the ombudsman wrote to provident stating that interest on loans 2,3,4 and 5 should be repaid and giving them 14 days to accept or to write back stating why not

on the 4th of september i rung ombudsman for update , and he rung provident whilst i was on hold "we might get round to it next week"

we are now on day 28 and provident have not bothered to reply

the case now has to leave the "handler" and now sit in another queue , awaiting an ombudsman